you guys are losing me here with the flashing multimedia-station things
You can use it (the PS3) as a Blu-Ray, DVD, Music, CD-R-player.
You can even store shit on the PS3 HD, like pics, movies, games etc stuff you download.
Hell, you can even surf the internet with it. Use it for chat/cam-sessions with random peeps (lol).
And someday you might even try to buy a game for it, like Guitar Hero : Metallica.
Summary, use a HDMI-cable from the PS3 to your HD-TV and watch Blu-rays. You will notice much better quality.